Article Sept. 20, 2023
Our Product Solutions business is on course to triple earnings potential
Article Sept. 20, 2023
Energy is essential to modern life, and for more than 140 years, we’ve been working hard to deliver the products society wants and needs – and what it wants in the future.
In our spotlight, we showcased how our Product Solutions business plans to continue that trend. Keep scrolling to read some high-level takeaways from the event.
Our facilities can be upgraded to make more of what the world needs.
More than 80% of our facilities are integrated. This means our refining and petrochemical units are interconnected. So, we have the ability to make more of what our customers want: high-performance products that could help reduce emissions.
Not enough plastic is being recycled. We can help.
Only 10% of plastics are recycled today, and that’s a problem. Using our Exxtend™ technology, more plastic waste can be recycled, and less will find its way to the environment.
The world needs this technology, and a lot of it.
Projected ExxonMobil Advanced Recycling feed capacity
Billion pounds per year
By the end of 2026, we hope to reach a global advanced recycling capacity of 500,000 metric tons – approximately 1 billion pounds – per year.
This is equivalent to more than 3,500 Olympic-sized swimming pools filled with plastic waste that could have otherwise gone to landfill or incineration. As the global population grows, society’s demand for plastic will too. But that doesn’t mean plastic waste should grow along with it. Our advanced recycling technology tackles that issue head on.
We build big things all over the world.
We’re industry leaders in completing massive projects on time and on budget.
Our Global Projects organization has been building mega-projects for decades. It’s a one-stop shop from development and design to engineering, procurement and construction. We have a proven track record, and we have the size, scale and know-how to meet the world’s growing needs.
Global scale and integration of manufacturing footprint
Our performance products are what people want.
What exactly are performance products? They’re the specialty plastics, lubricants and chemicals we use daily – from food packaging to car parts and dozens of other things that make our lives easier.
These products are designed to meet society’s expectations for lower emissions, while also helping our customers do more with less.
The big picture
At the end of the day, our Product Solutions business is about the people it serves.
More than 3 billion people around the world still live below modern living standards for life expectancy, education and income. Energy and energy-related products will help many of them rise from poverty into the global middle class over the next few decades, and our Product Solutions business stands ready to meet their needs.
To see slides from today’s presentation, click here.